Joint study to issue the world’s first “sake token” started: Mitsubishi UFJ Trust and SBI traceability | coindesk JAPAN | Coindesk Japan

On January 31, Mitsubishi UFJ Trust and Banking Corporation and SBI Traceability Co., Ltd. announced that they will be able to clearly link individual products at the “Digital Asset Co-Creation Consortium (DCC)” sponsored by Mitsubishi UFJ Trust and Banking. We will set up a “Sake Token Working Group (WG)” aiming to create a foundation for “Traceable NFT” that can clearly indicate that it is “, and to issue a “Sake Token” for the purpose of solving problems in the sake industry, and will start considering it. Announced.

“Traceable NFT” is a combination of “Progmat”, a digital asset issuance and management platform developed by Mitsubishi UFJ Trust and Banking, and “SHIMENAWA”, a traceability platform provided by SBI Traceability. It refers to NFTs that are clearly linked to rights related to specific products (real assets).

“Sake Token” is a use case of traceable NFT, and it is difficult to use Japanese sake for wine and whiskey until now. The aim is to work to improve the value of sake through “experience value,” which will lead to regional revitalization and, in turn, the enhancement of Japan’s brand power.

It will be a new method of fundraising for sake breweries that are challenging old and matured sake.

The WG aims to realize individual projects for “sake tokens” within 2023, and also aims to use “traceable NFT” for purposes other than sake.

｜Text and editing: coindesk JAPAN editorial department
｜ Top image: From the release